U.S. Inflation Accelerates, Trump Blames Biden Policies

Consumer prices rose 3% year-over-year in January, exceeding expectations and marking the fourth consecutive month of inflation increases.

The Consumer Price Index (CPI) revealed a 3% increase in U.S. consumer prices from January 2024 to January 2025, surpassing analysts' projections of 2.8%.
Core inflation, which excludes volatile food and energy prices, also climbed to 3.3% year-over-year, further straining consumer purchasing power.
President Donald Trump attributed the inflation surge to the policies of his predecessor, Joe Biden, while calling for the Federal Reserve to lower interest rates.
Federal Reserve Chair Jerome Powell indicated no immediate plans to reduce interest rates, citing robust labor market conditions and resilient consumer spending.
Economists warn that Trump's proposed tariffs and policy measures, such as higher duties on steel and aluminum imports, could exacerbate inflationary pressures.